Natural Gas Futures: Rebound likely near-term

Open interest in natural gas futures markets rose for yet another session on Friday albeit by just 621 contracts, in light of advanced prints from CME Group. On the other hand, volume reversed two builds in a row and went down sharply by around 415.7K contracts.

Natural Gas still looks to $3.00

Natural Gas prices attempted a bounce off recent lows on Friday. The move was against the backdrop of rising open interest and is indicative that further gains could be in the pipeline in he near-term. In the meantime, the key $3.00 mark per MMBtu continues to limit the upside for the time being.